Sony Pixel Power calrec Sony

VEON CEO letter to investors and partners

15/03/2022

Amsterdam, 15 March 2022 -VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a leading global provider of connectivity and internet services, has today, given the recent market volatility, provided our investors and partners with an update on our business setting out how we are successfully navigating through the current turbulence.

In the update, VEON's Chief Executive Officer Kaan Terzio lu comments on the following points:

Strong liquidity profile

Our business is strong, and we are well placed to weather the current storm.

The credit rating agencies define our liquidity margin as strong (Fitch) and sound (S&P). At the end of February 2022, VEON had USD 2.1 billion in cash and deposits, of which USD 1.5 billion at headquarters, held with international banks from the European Union, the United States and Japan. On top of that, VEON has a USD 1.25 billion committed revolving credit facility available to it (of which USD 820 million remains undrawn) from a group of diversified lenders headquartered in the United States, Europe and Asia.

On 1 March 2022, VEON repaid USD 417 million of maturing bonds, and on 9 March 2022 it pre-paid and closed a RUB 30 billion (approximately USD 259 million) interest-bearing loan with VTB Bank. Following this payment to VTB, VEON has no further loans outstanding with VTB. VEON has no additional debt maturities at its HQ level for the rest of 2022.

We will of course continue to maintain financial discipline, underpinned by our strong liquidity position and our resilient operating profile.

VEON is a global telecoms operator

We are proud to provide to our 218 million customers connectivity and digital services. These are essential for a combined population of 680 million in the nine countries where we operate.

We continue to execute on our Digital Operator strategy across our markets, pursuing all growth opportunities enabled by our Digital Products portfolio.

VEON shares are listed on NASDAQ in New York and EuroNext in Amsterdam. Our company is run by a diverse and international management team, with oversight from an independent Board of Directors. We have a globally diverse investor base, comprising of shareholders from around the world, and with no single controlling shareholder. VEON employs more than 60,000 people worldwide.

Confident legal position

I want to be absolutely clear: VEON is not the subject of any sanctions imposed by the European Union, the United States or the United Kingdom, and our counterparties' ability to continue to do business with us has not been impacted by these measures.

We have received numerous questions regarding sanctions against a former director and indirect shareholders of VEON, so let me also address that particular concern.

Following the imposition of sanctions on Mikhail Fridman and Petr Aven on 28 February 2022 by the Council of Europe, Mr. Fridman has resigned from his position as a member of the Board of VEON. Mr. Fridman and Mr. Aven have also resigned from their positions as members of the Boards of Directors of LetterOne Investment Holdings S.A., LetterOne Holdings S.A. and LetterOne Core Investments S.a.r.l. ( LetterOne ).

Furthermore, I would underscore that LetterOne does not have a controlling shareholding stake in VEON-neither as a matter of governance nor as the concept of control as interpreted under applicable law.

Protecting our employees and customers

We have been taking specific actions and will be doing all that is in our power to protect the safety of our employees and their families affected by the conflict. We continue contributing to humanitarian support across all our countries. And our technology is more relevant and necessary to our customers than ever before, ensuring continued connectivity, access to information, and it is also being used to help millions of displaced people and locate missing persons.

Committed to further engagement with our stakeholders

In closing, VEON's Chief Executive Officer Kaan Terzio lu notes, Continued engagement with our stakeholders is more important than ever. We deeply value our relationship, and we will continue to maintain an open dialogue, providing you with timely, accurate and relevant information about VEON's strategy, plans and performance .
LINK: https://www.veon.com/media/media-releases/2022/veon-ceo-letter-to-inve...
See more stories from vimpel

More from VimpelCom

14/06/2022

VEON Ventures Makes $15m Series A Investment in Dastgyr

June 14, 2022 - VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a global digital operator that provides mobile connectivity and services, announces today th...

10/06/2022

VEON's Kyivstar Wins CTO of the Year Award 2022

AMSTERDAM, 10th June 2022 - VEON Ltd. (NASDAQ and Euronext Amsterdam: VEON), a global digital operator that provides mobile connectivity and services, announce...

10/06/2022

From VEON CEO: Key Developments Update for Investors and Partners

Amsterdam, 10 June 2022 - Today the Chief Executive Officer of VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a global digital operator that provides mobil...

08/06/2022

VEON announces sale of Georgian operations

Amsterdam, 08 June 2022 - VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a global digital operator that provides mobile connectivity and services, today an...

25/05/2022

VEON announces 2022 AGM and board nominees

Amsterdam, 25 May 2022 - VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a global digital operator that provides mobile connectivity and services, has today...

17/05/2022

Communications is a Humanitarian Need

Communications is the difference between refugees with hope, and those without it. Seven years ago, in my role as CEO of a mobile operator in Turkey, I saw firs...

10/05/2022

VEON Investment to Accelerate the Digitalisation of Uzbekistan

Uzbekistan - May 10, 2022 VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a global digital operator that provides mobile connectivity and services, announce...

10/05/2022

VEON to Support Uzbekistan in Becoming an Export Hub of IT Services

Uzbekistan - May 10 2022 VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a global digital operator that provides mobile connectivity and services, announces...

05/05/2022

Beeline Uzbekistan provides Support for Women s IT Entrepreneurs

Uzbekistan - May 5, 2022 VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a global digital operator that provides mobile connectivity and services, announces...

29/04/2022

VEON files Form 20-F for financial year 2021

Amsterdam, 29 April 2022 - VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a leading global provider of connectivity and digital services, today announces t...

28/04/2022

VEON publishes Q1 2022 trading update

Protecting stakeholder value delivering continued local currency growth across our operations Amsterdam (28 April 2022) - VEON Ltd. (VEON) announces a trading ...

11/04/2022

VEON s Banglalink Launches Digital Services Marketplace AppLink

Amsterdam, 11th April 2022 - VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a global digital operator that provides mobile connectivity and services, today...

01/04/2022

VEON Doubles Spectrum Holding in Bangladesh

Amsterdam, 1st April 2022 - VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a global digital operator that provides mobile connectivity and services, today...

22/03/2022

VEON's Banglalink launches Health Hub

Dhaka, Bangladesh, 22nd March 2022 - VEON Ltd. (NASDAQ and Euronext Amsterdam: VEON), a leading global provider of connectivity and internet services, announce...

18/03/2022

VEON Holdings B.V. reiterates currency election on its ruble-denominated notes

Amsterdam, 18 March 2022 - VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a leading global provider of connectivity and digital services, today provides so...

16/03/2022

Statement by VEON Board Of Directors

Dear Stakeholders, VEON is a Nasdaq and Euronext listed major international telecommunications company headquartered in the Netherlands. VEON has a diverse inv...

16/03/2022

Michiel Soeting joins the VEON Board as a non-executive Director

Amsterdam, 16 March 2022 - VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a leading global provider of connectivity and internet services, today announced ...

15/03/2022

VEON CEO letter to investors and partners

Amsterdam, 15 March 2022 -VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a leading global provider of connectivity and internet services, has today, given ...

14/03/2022

Atyab Tahir appointed as CEO of JazzCash

Amsterdam, 14 March 2022 - VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a leading global provider of connectivity and internet services, announces the ap...

14/03/2022

VEON credit rating update

Amsterdam, 14 March 2022 - VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a leading global provider of connectivity and internet services, announces that F...

11/03/2022

VEON concludes repayment of VTB Bank loan

Amsterdam, 11 March 2022 - VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a leading global provider of connectivity and internet services, today announces ...

08/03/2022

Robert Jan van de Kraats steps down from VEON Board

Amsterdam, 8 March 2022 7:00 (CET) - VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a leading global provider of connectivity and internet services, today ...

04/03/2022

VEON responds to investor inquiries

Amsterdam, 4 March 2022 16:30 (CET) - VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a leading global provider of connectivity and internet services, after...

02/03/2022

VEON liquidity update

Amsterdam, 25 May 2022 - VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a leading global provider of connectivity and digital services, today announces tha...

01/03/2022

VEON to share Augmented Intelligence Platform

Barcelona, 1st March 2022 - VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a global digital operator that provides mobile connectivity and services, today ...

01/03/2022

Mikhail Fridman steps down from VEON Board

Amsterdam, 1 March 2022, 11:15 (CET) - VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a leading global provider of connectivity and internet services, toda...

28/02/2022

VEON reports 4Q & FY 2021 results

Amsterdam (28 February 2022) - VEON Ltd. (VEON) announces results for the fourth quarter and full year ended 31 December 2021: VEON reports FY 2021 results wit...

28/02/2022

VEON announces details of new incentive plan aligned with total shareholder return

Amsterdam, 28 February 2021 - VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON)...

28/02/2022

Share award to VEON Board members

Amsterdam, 28 February 2021 - VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a leading global provider of connectivity and internet services, today announc...

28/02/2022

MobileID gains momentum to replace Social Network Authentication

Barcelona, 28th February 2022 - VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a global digital operator that provides mobile connectivity and services, to...

24/02/2022

VEON Announces World's First Always-On' Network

Barcelona, 24th February 2022 - VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a global digital operator that provides mobile connectivity and services, to...

17/02/2022

VEON announces a RUB 30 billion (c.USD 400 million) seven year term loan with VTB Bank

Amsterdam, 17 February 2021 - VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON)...

03/02/2022

VEON announces its intention to establish new parent holding company in the UK

Amsterdam, 3 February 2022 - VEON Ltd. (NASDAQ and Euronext Amsterdam: VEON), a leading global provider of connectivity and internet services, has today announc...

24/01/2022

VEON announces dates for quarterly results

Amsterdam, 24 January 2022 - VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a leading global provider of connectivity and internet services, notes that we ...

05/01/2022

Karen Linehan joins the VEON Board as a non-executive Director

Amsterdam, 5 January 2022 - VEON Ltd. (NASDAQ and Euronext Amsterdam: VEON), a leading global provider of connectivity and internet services, today announced th...

29/12/2021

Mohammad Khairil Abdullah joins VEON s leadership team

Amsterdam, 29 December 2021 - VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a leading global provider of connectivity and internet services, announces Moh...

27/12/2021

VEON's Beeline Partners with Yandex Plus

Amsterdam, 27 December 2021 - VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a leading global provider of connectivity and internet services, announced tod...

24/12/2021

VEON concludes RUB 90 billion (c.USD 1.2 billion) bank financing

Amsterdam, 24 December 2021 - VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a leading global provider of connectivity and internet services, announces tha...

20/12/2021

Beeline Tests First Industrial Augmented Reality Glasses over 5G networks in Russia

Augmented Reality glasses use IKSAR software and 4G/5G networks to enhance field...

18/12/2021

Andrey Pyatakhin appointed as CEO of Beeline Kyrgyzstan

Amsterdam, 18 December 2021 - VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a leading global provider of connectivity and internet services, announced tod...

18/12/2021

Victor Biryukov appointed as Veon Group General Counsel

Amsterdam, 18 December 2021 - VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a leading global provider of connectivity and internet services, announced tod...

17/12/2021

VEON announces acquisition of cloud service provider IBS DataFort

Amsterdam, 17th December 2021 - VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a leading global provider of connectivity and internet services, has acquire...

15/12/2021

JazzCash introduces digital-first shopping experience AlaCart powered by TCS

Islamabad - 14th December, 2021: Pakistan's leading fintech JazzCash has introduced a unique digital-first shopping experience AlaCart powered by TCS on its...

12/12/2021

Jazz Drive-in Concert sets new Guinness World Record

Islamabad - 12 December 2021: The Jazz Drive-in Concert has set a new Guinness World Records title for the most cars in a Drive-in Music Concert with 1000+ car...

07/12/2021

VEON aligns executive compensation with TSR

Amsterdam, 7 December 2021 - VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a leading global provider of connectivity and internet services, has today anno...

07/12/2021

VEON aspires to achieve EBITDA growth between FY2022 and FY2024

Amsterdam, 7 December 2021 - VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a leading global provider of connectivity and internet services, has announced ...

07/12/2021

VEON s Group Chief Executive, Kaan Terziolu on Sky News

Watch VEONs Group Chief Executive, Kaan Terzio lu on Sky News. Speaking with Ian King, he discusses VEONs growth strategy and explains why its the right time fo...

07/12/2021

VEON aspires to achieve 10-14% CAGR local currency revenue & EBITDA growth between FY2022 and FY2024

Amsterdam, 7 December 2021 - VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON),...

07/12/2021

VEON Rolls Out New Industry Standard for Digital Identity Validation

Amsterdam, 7th December 2021 - VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a leading global provider of connectivity and internet services, today announ...

01/12/2021

VEON concludes Russia tower transaction

Amsterdam, 01 December 2021 - VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a leading global provider of connectivity and internet services, today announc...